Kuwait’s oil minister also said he believed surplus production in the oil market would be absorbed soon, but that the extent of the surplus was not clear.
The Dubai tramway launches on November 11, and will cost a minimum of Dhs3 per trip.
Dubai’s index added 1.1 per cent, buoyed by Emaar and Dubai Islamic Bank while Abu Dhabi’s index rose 0.7 per cent.
The tram will operate from 6.30 am to 1.30 am from Saturday to Thursday and from 9.00am to 1.30 am on Fridays.
The company made a net profit of OMR30 million ($77.9 million) in the three months to Sept. 30, up from OMR29.1 million in the year-earlier period.
The agreement allows UAE easy access to Asian markets while giving Japan priority access to reserves if Japan is in short supply of crude.
Songbird rejected an initial approach on Friday, saying the 295-pence a share offer significantly undervalued the company.
The state-owned property firm is on track to restructure the debt by the end of the year, when a payment worth a third of the total comes due.
The lender, Kuwait’s third largest by assets, is issuing 216 million new shares.
The Justice Ministry in July asked a court to suspend the National Democratic Action Society, known as Waad, for three months.
The project is expected to have a capacity of nine million tonnes a year.
Dubai’s diversification into sectors such as trade, tourism, real estate will ensure that it enjoys favourable economic conditions.
The new OTT players have helped the telecoms provider boost revenues from data usage, says the CEO.
Expo 2015 Milan is themed around the issue of tackling global food and hunger challenges.
Some analysts had predicted UNB might be added to the MSCI index, but it was not.
The response comes following an Associated Press report quoting an unnamed Shoura Council member.
Shares in Dubai’s Emaar Properties and Dubai Islamic Bank, whose weightings also increased, rose 2.5 and 1.6 per cent respectively.
All public sector departments will remain closed from December 2 to December 7 as per directives by the UAE president.
Waha made a net profit of Dhs301.2 million ($82 million) in the three months to Sept. 30, up from Dhs107.1 million in the year-ago period, it said in a statement.
The company said in an emailed statement that it collected more than Dhs13.6 billion in its 16-day IPO.
Songbird’s chief executive said in a statement that the proposal undervalued the company and does not reflect the inherent value of the business.
The move comes after the telecommunications firm posted a shock third-quarter profit drop last week due to the accounting issues.
The backing of deep-pocketed Aabar Investments may be crucial to Virgin Galactic as it struggles to recover from the accident.
Aramco cut December crude prices to US refiners to maintain its market share, writes Reuters market analyst John Kemp.
Bahrain’s new visa policy is expected to boost the nation’s tourism sector and attract more investment to the local economy.
Saudi Arabia’s Shi’a minority is feeling increasingly vulnerable amidst rising anger among the majority sect at the plight of Sunnis in other countries, torn apart by sectarian wars.
The four-phased project will chart opportunities for tourism development in Ajman over the next five years.
Currently, Qatari investors are exempt from taxes on profits made when they sell properties purchased in France.
Third A380 service provides more choice for passengers connecting later in Dubai, and flying onwards in America
The deal between NASDAQ Dubai and Misr for Central Clearing, Depository and Registry (MCDR) establishes technical ties that will facilitate dual listings.